The Company has been engaged in construction and real estate management for more than 15 years. The main client of the Company is its related entity – a developer of residential apartment houses. Approximately 90% of revenue is generated by construction services while the rest comes from management services of apartment houses built by the related entity. The Company has finalized its construction works of a 12-apartment building project in Riga. A usage permit has been acquired for its building and 11 out of 12 apartments are reserved. Part of the reserved apartments sale processes are closed, new ownership rights were registered and remaining deal processes are ongoing and will be closed soon. The last apartment is expected to be sold within 3 to 4 months. Also, the related company is currently building a 8-apartment building in Riga, with planned sales revenue of EUR 1.03m. 

There are a number of factors that make lending to the Company an attractive opportunity and the main highlights are as follows:

• The loan is secured with real estate collateral with a market value of EUR 115,000 (LTV 68%).
• The owner of the company will provide a guarantee.
• The Company has more than 15 years of experience in the industry.
• The Company is a long lasting client with excellent payment history